Costamare lifts charter coverage above 90% through 2027 as contracted revenue reaches US$3.4Bn

In its Q4 earnings report, the US-listed container ship specialist disclosed US$940M in additional contracted revenue secured through 12 new long-term fixtures. The charters cover vessels ranging from 4,200 TEU to 14,400 TEU, with minimum durations of three to eight years. All contracts are scheduled to commence within the next three years.

As a result, Costamare has secured employment for 96% and 92% of its container ship fleet for 2026 and 2027, respectively. The fleet’s TEU-weighted contracted duration now stands at 4.5 years, compared with 3.2 years reported in Q3 2025. Contracted revenues increased from US$2.6Bn in Q3 to US$3.4Bn.

“With an idle fleet of less than 1%, the charter market remains strong with continued high demand for tonnage and limited supply of ships available for charter due to the ongoing shortage of prompt ships,” Costamare chief financial officer Gregory Zikos said.

Against this backdrop, voyage revenue for Q4 2025 reached US$203M, down from US$218M in the corresponding period of 2024. Net income from continuing operations stood at US$79M, compared with US$95M a year earlier.

For the full year, voyage revenue totalled US$847M, slightly lower than US$865M in 2024, while net income declined marginally to US$397M from US$407M.

Liquidity at the end of Q4 stood at US$590M.

Expanding leasing platform

Costamare continues to expand Neptune Maritime Leasing (NML), in which it holds a controlling stake.

The company has increased its total investment commitment in NML to US$248M, of which US$182M – or 74% – has been deployed to date.

According to Mr Zikos, 54 shipping assets had been funded or were on a commitment status basis as of 17 February 2026, with total investments and commitments exceeding US$665M.

Costamare also declared a quarterly dividend of US$0.115 per common share, paid on 5 February.

The group currently operates 69 container vessels with an aggregate capacity of 520,000 TEU, in addition to six 18,600-TEU ships under construction.

The Greek owner has also been linked this year to discussions over a potential 9,200-TEU shipbuilding project in China.